Collecting utility bill data efficiently is essential for energy management in organizations. Monitoring and managing the data can be complex, and a manual process can lead to inaccuracies in the database.
This article presents an overview of how utility efficiency is affected by accurate billing.
The Importance of Accurate Billing in Utilities Efficiency
Here is a deep dive into the key reasons for accurate billing for utility management.
1. Utilities Management and Cost Savings
It is critical for businesses to know precisely about their utility consumption. Firms that do not accurately monitor their utility bill data may incur increasing costs while paying their utility bills. On the other hand, organizations that know their exact consumption can form strategies to minimize such costs leading to cost savings.
2. Timely Payments
Accurate billing helps organizations make timely payments and reduces the redundant effort of verifying, rechecking and matching invoices.
3. Sustainability Reporting
Companies achieve sustainability goals and work toward efficient resource utilization through accurate billing.
4. ESG Management
Accurate billing can help companies achieve efficiency goals by managing energy conservation efforts for ESG-grade building investments. Effective ESG compliance further leads to lower risks, long-term profitability and a positive investment impact.
5. Tracking Renewable Energy
Through accurate billing, organizations can track renewable energy use that contributes toward their sustainability goals and reduce the cost of utilities.
The Role of Outsourcing Companies
Outsourcing companies have stepped in to help organizations manage their utility data bills accurately and efficiently. The BPOs use the latest technological tools that help companies identify, monitor and manage their utility data in real time and take timely actions to reduce costs and achieve sustainability goals.
How Can ARDEM Help?
ARDEM – A Business Process Outsourcing company offers utility bill management services such as:
- Water – Normalizing data from water usage across all meters.
- Electricity – Streamline energy usage and demand for complete visibility.
- Natural Gas – Extracting total cost and consumption of natural gas
- Waste – Aggregating waste collection utility data from various providers.
- Telecom – Internet, cable, telecommunication etc.
- Sewage – Tracking sewage and drainage services
ARDEM offers the following services to provide accurate billing for utility bills.
ARDEM uses advanced data capture technology and data entry methodology to streamline utility bill processing by increasing accuracy, decreasing turnaround time and reducing costs.
2. Sustainability Reporting
Data gathered from utility bills is normalized to create accurate databases. Clients benefit from the increased visibility that helps them identify the best methods to improve sustainability.
3. Standardizing Vendor Formats
Utility vendors have varying formats and metrics that outline usage and consumption. ARDEM’s utility database has mapped thousands of vendors to make data extraction quick and accurate.
ARDEM Utility Manager
ARDEM Utility Manager allows businesses to easily track the consumption of all their data bills with complete accuracy. The cloud-based digital collaboration platform helps enhance visibility and lower costs to improve sustainability efforts across all locations. The utility manager scans and uploads utility bills, apply machine learning and artificial intelligence streamlines the approver process and efficiently normalizes data from various vendor formats.
Accurate billing helps organizations with utility management, such as cost savings, ESG initiatives, sustainability reporting etc. ARDEM offers utility bill management services ranging from utility data entry, utility bill auditing, payment and energy data analysis that are streamlined to improve cost-efficiency and sustainability.
ARDEM provides Business Process Outsourcing and Business Process Automation Services to established companies to help them improve operational Efficiency and Reduce Costs. For more information please reach out to us at email@example.com or call us at 908-359-2600.